This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
Wednesday, May 27, 2009
McClatchy shares close at $1.18 a share, up 9%
McClatchy (MNI) shares rose 9% Wednesday, to close at $1.18 per share.
An amazing 2.6 million shares changed hands Wednesday. Something's going on here. . . .
Who is pulling the strings? Remember Bruce Sherman? The money manager who forced the merger of Knight Ridder to McClatchy back in 2006. He spent more than $1.5 billion of his clients' money on newspaper companies, owning some 10percent of the New York Times, 3 percent of Gannett and [12 percent of McClatchy.]
Sherman forced the KR/McClatchy merger, and look how that came out. Who is playing games now? Shit happens, get ready.
3 comments:
for McClatchy, what goes up must come down.
Who is pulling the strings?
Remember Bruce Sherman? The money manager who forced the merger of Knight Ridder to McClatchy back in 2006. He spent more than $1.5 billion of his clients' money on newspaper companies, owning some 10percent of the New York Times, 3 percent of Gannett and [12 percent of McClatchy.]
Sherman forced the KR/McClatchy merger, and look how that came out. Who is playing games now?
Shit happens, get ready.
That 2.6 million came from the penny and 1/2 per paper they just took from all the carriers. And now we aren't even getting paid.
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